Caixin OnlineBusiness & IndustryTop Stories Industry 360Buy Still Has No IPO Plans, Company Source Says
07.10.2012 19:32

360Buy Still Has No IPO Plans, Company Source Says

Despite persistent reports it plans to raise funds, insider says firm is the picture of financial health
By staff reporter Wang Shanshan

(Beijing) – Leading online electronics retailer 360Buy has no plans to raise funds through an initial public offering or by selling stakes to private equity firms before 2013, a source inside the company has reiterated.

The source said on July 3 that a financial assessment by PricewaterhouseCoopers showed 360Buy had net cash of almost US$ 1 billion by the end of 2011.

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